Tag: power of sale
Tag: power of sale
Registering a Notice to try and save a Power of Sale
Often, borrowers loosing their home to a power of sale will take any advise they can get to stop the process. Borrowers are sometimes led...
Private Lending: Do not Rely on Someone Else’s Appraisal!
Often private lenders will receive a brief term sheet with an email introduction from a mortgage broker or agent trying to place a mortgage deal. Included...
Can a borrower redeem their mortgage under power of sale?
The answer to this question is constantly evolving, with new and conflicting case law addressing specific facts released almost yearly. The old adage of being able...
What If A Mortgage Goes Bad In A MIC? What are the Investment Benefits In A MIC?
Management of the MIC must be vigilant and selective with whom they lend to, and investors can inquire about whether the MIC in question will allow...
Can a lender charge a mortgage pre-payment penalty under Power of Sale proceedings or once the mortgage term has matured, regardless if it is an Open or Closed Mortgage?
Under section 17 of the Mortgages Act, and pursuant to relevant case law the answer is “Yes” the lender can. Subject to the wording in the...
Mortgage Enforcement: What Can Go Wrong?
Notice of Sale and RequisitionsIf a purchase is made under power of sale, it is necessary to ensure that the vendor is authorized to conduct the...
Mortgage Enforcement: Issues for Discussion
IntroductionCommon issues expected to arise and confront legal counsels in mortgage enforcement practice, whether from the mortgagor’s perspective or from the lender’s perspective are under discussion...
MORTGAGE DEFAULT: Power of Sale or Foreclosure?
Although generally the real estate market in Ontario has been robust, the frenzied market of the past has caused an increase in mortgage defaults as a...